BSE Sensex edges up; HUL gains on results

The BSE Sensex edges up 0.3 percent, while the broader Nifty is up 0.24 percent, tracking gains in Asian peers.

Hindustan Unilever Ltd gains 1.6 percent after earlier rising as much as 4.2 percent after the company's sales volumes in the July-September quarter grew 5 percent, in line with market estimates of 4-5 percent growth.

Maruti Suzuki India Ltd gains 0.75 percent ahead of its earnings later in the day.

Foreign investors have continued to buy local shares, remaining net buyers for a 16th consecutive session. Provisional exchange data showed a net purchase of 6.27 billion rupees worth of shares on Friday.

However, traders expect volatility after Indian shares rise to near three-year highs as the central bank is expected to raise interest rates by 25 basis points at its policy review on October 29, while U.S. Federal Reserve holds its policy meeting on October 29-30.

The expiry of October derivative contracts on October 31 could further add to the volatility, traders say.